Fox Corporation
| founder = Rupert Murdoch | hq_location = 1211 Avenue of the Americas | hq_location_city = New York City, New York | hq_location_country = U.S. | area_served = United States | key_people = | production = | production_year = | revenue = | revenue_year = | operating_income = | income_year = | net_income = | net_income_year = | assets = | assets_year = | equity = | equity_year = | owner = | num_employees = | num_employees_year = | subsid = | website = }} Fox Corporation, also known as Fox Corp. (referred to before its creation as "New Fox") is a mass media company formed as a result of the acquisition of 21st Century Fox by Disney to serve as the corporate spin-off for the assets The Walt Disney Company will not acquire. It is expected to launch as a separate company on March 19, 2019. Fox will be the legal successor to 21st Century Fox (in turn a successor to News Corporation) dealing primarily in the television broadcast, news and sports industries. Its sister company under Rupert Murdoch's control, News Corp, holds Murdoch's print interests and other media assets in Australia (both owned by him and his family via a family trust with 39% interest in each). Murdoch is co-executive Chairman, while his son Lachlan Murdoch is Chairman and CEO, respectively. Fox's assets include the Fox Broadcasting Company, Fox Television Stations, Fox News, the Fox Business Network, FS1, FS2, Fox Deportes, Big Ten Network, and others. History Formation On November 6, 2017, CNBC reported that The Walt Disney Company was negotiating a deal with Rupert Murdoch to acquire 21st Century Fox's filmed entertainment, cable entertainment, and direct broadcast satellite divisions. In May 2018, it was confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company. On June 20, 2018, The Walt Disney Company announced a definitive agreement to acquire 21st Century Fox for $71.3 billion in cash and stock. Assets being assumed by the acquisition include the 20th Century Fox film and TV studios, Fox Television Group (along with cable channels such as FX), international networks, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, a 30% stake in Hulu, and other key assets. 21st Century Fox will spin-off the Fox Broadcasting Company, Fox Television Stations, Fox News Channel, the Fox Business Network, FS1, FS2, Fox Deportes and the Big Ten Network into the new Murdoch's company. Because Disney owns the American Broadcasting Company (ABC), and 21st Century Fox owns the Fox Broadcasting Company, a full acquisition of Fox by Disney would be illegal under the Federal Communications Commission's rules prohibiting a merger between any of the four major broadcast networks. The deal was approved by shareholders of both companies on July 27, 2018. On October 10, 2018, it was reported that the new, post-merger organizational structure of "New Fox" would be implemented by January 1, 2019, ahead of the closure of the Disney sale (which is still expected to occur during the early March 2019). On November 14, 2018, it was revealed that the new independent company will maintain the original "Fox" name. On January 7, 2019, Fox Corporation's registration statement was filed with the U.S. Securities and Exchange Commission. On January 11, 2019, Fox Corporation said in a securities filing that it has no plans to bid on the Fox Sports Networks that Disney is selling to get approval for the acquisition of the remainder of 21st Century Fox. The deal between Disney and Fox is expected to close by March 2019. On March 12, 2019, Disney announced March 20, 2019 as the official close date of the Fox deal, which will be preceded by Fox Corp. spinoff a day earlier, March 19, 2019. On March 14, S&P 500 announced that the new company will start officially trading as Fox Corp. on March 19, 2019. Corporate governance The company's executives or board members may potentially include the following 12 individuals: * Rupert Murdoch (co-chairman) * Lachlan Murdoch (chairman and chief executive officer) * Jacques Nasser (director) * John Nallen (chief operating officer) * Paul Cheesbrough (chief technology officer) * Steve Tomsic (chief financial officer) * Viet D. Dinh (chief legal and policy officer) * Joseph Dorrego (chief investor relations officer and executive vice president of corporate initiatives) * Mike Biard (president of operations and distribution) * Marianne Gambelli (president of ad sales) * Charlie Collier (CEO of Entertainment) * Eric Shanks (CEO of Fox Sports) Assets * Fox Broadcasting Company * Fox Television Stations Group ** 28 stations ** MyNetworkTV ** Movies! (50%) * Fox News Group ** Fox News Channel ** Fox Business Network ** Fox News Radio ** Fox News Talk ** Fox Nation * Fox Sports Media Group ** Fox Sports ** FS1 ** FS2 ** Fox Deportes ** Big Ten Network (51%) ** Fox Soccer Plus ** Fox College Sports ** Fox Sports Radio ** Fox Sports Digital Media ** Home Team Sports (HTS) – advertising sales for sports channels including other regional sports networks plus commercial and program production, events, and local live custom brand integration *** Fox Sports College Properties – college rights holder for Big East Conference, several colleges: Michigan State, Auburn, San Diego State, Georgetown & USC and the Los Angeles Memorial Coliseum *** Impression Sports & Entertainment – naming rights and event sponsorships. * The 20th Century Fox studio lot (to be leased to The Walt Disney Company) See also * References External links * Category:Fox Corporation Category:2019 establishments in New York City Category:Companies based in Manhattan Category:Corporate spin-offs Category:Media companies based in New York City Category:Media companies established in 2019 Category:Media companies of the United States Category:2019 establishments in New York (state) Category:21st Century Fox